THE more than 200,000 pensioners of estate pension fund Government Service Insurance System (GSIS) will receive a total of P1.62 billion as Christmas cash gift this year.
GSIS president and general manager Robert G. Vergara said they have approved the release of the cash gift, which is given before the end of the year to eligible active old-age, retirement and disability pensioners who are receiving their regular monthly pensions as of December 15, 2011.
He explained that “those who are on suspended status as of December 31, 2011, but who will activate their status by April 30, 2012 are also eligible to receive the cash gift.”
“We will credit the cash gift to our pensioners’ accounts by December 15,” he said.
Vergara said pensioners who received more than P10,000 Christmas cash gift last year “shall be granted an amount equivalent to their current monthly pension but not to exceed P12,600.”
“While those whose 2010 Christmas cash gift is P10,000 and below, shall be granted a cash gift equivalent to the amount of their one-month current pension up to a maximum of P10,000,” he said.
The GSIS chief also said that “pensioners who resumed their regular monthly pension after December 31, 2010 (after the five-year guaranteed period) shall be granted an amount equivalent to one-month current pension up to a maximum of P10,000.” [PNA]
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